Kutt, a NYC-based provider of a social betting platform, raised over $1M in funding.
The round was led by Lightning Capital.
The company intends to use the funds to further enhance itsl initiatives aimed at growing its community, enhancing user experiences, and expanding betting markets.
Led by CEO and Founder Sim Harmon, Kutt provides THE Social Betting Platform™ — a social-first P2P betting platform that allows users to bet directly against each other on sports, politics, pop culture, and other events with verifiable outcomes. Its platform resembles a betting social network, with user profiles, chat capabilities, betting leaderboards, head-to-head history, and fan groups for users with shared interests. Kutt also offers fully customizable odds. With it, users can create their own bets/terms and be rewarded with cash back for every single bet they make on the platform.
Kutt is venture-backed, based in the US, and legal in ~40 states.
Commenting on the news, Sim Harmon said: “If anything, bettors unquestionably prefer a more curated, social experience — they want to be part of a wider community and to be part of the conversation around sports, entertainment, and important events.”
FinSMEs
01/05/2024